Arrowroot Acquisition Corp. (NASDAQ:ARRW – Get Rating) was the recipient of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 2,200 shares, an increase of 22.2% from the May 15th total of 1,800 shares. Based on an average daily trading volume, of 59,600 shares, the short-interest ratio is currently 0.0 days.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP lifted its stake in shares of Arrowroot Acquisition by 20.8% in the 4th quarter. Marshall Wace LLP now owns 1,154,260 shares of the company’s stock valued at $11,197,000 after purchasing an additional 198,468 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of Arrowroot Acquisition by 246.8% in the 1st quarter. Hsbc Holdings PLC now owns 1,147,485 shares of the company’s stock valued at $11,182,000 after purchasing an additional 816,631 shares in the last quarter. Saba Capital Management L.P. lifted its stake in shares of Arrowroot Acquisition by 1.1% in the 1st quarter. Saba Capital Management L.P. now owns 1,123,257 shares of the company’s stock valued at $10,963,000 after purchasing an additional 12,321 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Arrowroot Acquisition by 3.5% in the 4th quarter. Millennium Management LLC now owns 936,932 shares of the company’s stock valued at $9,088,000 after purchasing an additional 31,711 shares in the last quarter. Finally, Citadel Advisors LLC lifted its stake in shares of Arrowroot Acquisition by 48.1% in the 3rd quarter. Citadel Advisors LLC now owns 796,978 shares of the company’s stock valued at $7,731,000 after purchasing an additional 258,939 shares in the last quarter. 65.09% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:ARRW opened at $9.76 on Friday. The stock’s 50-day moving average price is $9.79 and its two-hundred day moving average price is $9.75. Arrowroot Acquisition has a 12-month low of $9.61 and a 12-month high of $10.30.
Arrowroot Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to identify and acquire a business focusing on the enterprise software sector.
- Get a free copy of the StockNews.com research report on Arrowroot Acquisition (ARRW)
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